i-80 Gold Corp. (NYSEAMERICAN:IAUX) Sees Large Decline in Short Interest

i-80 Gold Corp. (NYSEAMERICAN:IAUX) was the recipient of a large decline in short interest in the month of June. As of June 15th, there was short interest totalling 25,750,000 shares, a decline of 5.2% from the May 31st total of 27,170,000 shares. Based on an average daily volume of 4,540,000 shares, the short-interest ratio is presently 5.7 days. Currently, 7.4% of the shares of the company are short sold.

Hedge Funds Weigh In On i-80 Gold

Several hedge funds have recently bought and sold shares of IAUX. Mackenzie Financial Corp boosted its stake in i-80 Gold by 8.2% in the fourth quarter. Mackenzie Financial Corp now owns 98,295 shares of the company’s stock valued at $173,000 after buying an additional 7,469 shares in the last quarter. Price T Rowe Associates Inc. MD grew its holdings in shares of i-80 Gold by 28.1% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 58,013 shares of the company’s stock valued at $78,000 after purchasing an additional 12,737 shares during the last quarter. Wealthsource Partners LLC acquired a new position in i-80 Gold during the 4th quarter worth approximately $40,000. Vanguard Personalized Indexing Management LLC bought a new position in i-80 Gold in the 4th quarter valued at approximately $47,000. Finally, Tower Research Capital LLC TRC boosted its position in i-80 Gold by 351.3% in the fourth quarter. Tower Research Capital LLC TRC now owns 36,373 shares of the company’s stock valued at $64,000 after buying an additional 28,314 shares in the last quarter. 61.31% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Separately, CIBC lowered their target price on shares of i-80 Gold from $5.00 to $4.25 and set an “outperformer” rating on the stock in a report on Tuesday, April 9th.

i-80 Gold Stock Performance

i-80 Gold stock opened at $1.07 on Thursday. The firm has a market cap of $321.64 million, a price-to-earnings ratio of -4.65 and a beta of 1.42. The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.17 and a current ratio of 0.30. i-80 Gold has a one year low of $0.96 and a one year high of $2.33.

i-80 Gold (NYSEAMERICAN:IAUX) last issued its quarterly earnings results on Monday, May 13th. The company reported ($0.07) EPS for the quarter. i-80 Gold had a negative return on equity of 20.42% and a negative net margin of 115.35%. The company had revenue of $8.41 million during the quarter. As a group, equities research analysts forecast that i-80 Gold will post 0.05 EPS for the current fiscal year.

i-80 Gold Company Profile

i-80 Gold Corp., a mining company, explores for, develops, and produces gold, silver, and polymetallic deposits in the United States. The Company's principal assets are the McCoy-Cove gold properties located in Lander County, Nevada; the Granite Creek gold project located in Humboldt County, Nevada; the Lone Tree project located within the Battle Mountain-Eureka Trend, Nevada; and the Ruby Hill mine in Eureka County, Nevada.